BROBrown & Brown, Inc.
Options Analysis Report•INSURANCE AGENTS, BROKERS & SERVICE
Market Cap $23.0B|NYSE
● 2026-04-17$67.72
VERY BULLISH
Analysis: 2026-04-16 EOD data
1Y -40.3%YTD -12.8%7D +4.1%
Options Vol
348
30D
Implied Move
±10.0%
IV Rank
42%
BRO Options Overview
bullish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.4
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 44.2% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.10x — IV premium over HV
Sector Relative≤50%
Sector percentile 69% — above sector median
Term Structure
<1.1xFront/Back 1.07x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 34.2% — normal range
Spread-Adjusted Value
<80%Effective IV 71.7% (ATM 34.2% + spread 18.8% + bias) — fair
Execution Efficiency
<3.0%Total drag 29.15% (spread 18.75% + slippage 10.40%) — high friction
Vega Efficiency
≥5.0Vega efficiency 4.11 (vega 7.699 / spread 18.75%) — spread drag
Sentiment
Bullish or bearish?
9.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +91%, Raw: +90%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +91% (strong bullish) — Raw: +90%
OI Skew Magnitude
≥15%|OI skew| 47.5% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +77.6%, OI skew +47.5% — aligned
Conviction Quality
≥2/3 conditions0-DTE 78%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +83%, ATM: +97%, OTM: +54% — strong bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 10% — very bullish vs sector
Activity
Unusual activity?
4.0
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.9x avg — normal
Turnover Rate
≥15%Vol/OI 4.0% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +2.6% (5d) — building
Sector Relative≥60%
Sector activity percentile 46% — neutral vs sector
Trade Quality
≥30%Large trade volume 29% — mixed
Execution Urgency
≥60%Aggressive execution 24% — patient
Flow Conviction
≥30Conviction +91 (bullish) — strong conviction
Liquidity
Can I trade efficiently?
2.7
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks1/8 checks passed
Tradeable Spread
≤5.0%Spread 18.8% — wide
Adequate OI
≥10,000OI 8,662 — thin
Active Volume
≥500Volume 348/day — thin
Reasonable Cost
≤$0.50$0.94 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 71% — wider than sector
Order Book Depth
≥100 contractsDepth 113.4 contracts (bid:93.8 ask:19.6) — adequate
Execution Quality
<1.0%Avg slippage 10.40% — poor
Timing
Is now a good time?
7.8
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +7.1% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 44% — neutral
Event Detection
≥10pts kinkIV kink 1.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 162.42 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 10d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +91% @ 95% consistency — STRONG directional (bullish)
Smart Money Timing
≥40 composite scoreScore 59 (ITM 20% + inst 29%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls6.9
bullishIV fair, bullish flow
Long Puts3.6
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put6.5
bullishIV fair, bullish flow
Covered Call3.2
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.